(1.) The present bail applications have been filed under Sec. 439 of the Code of Criminal Procedure, 1973 (Cr.P.C.) read with Sec. 167(2) of Cr.P.C. on behalf of the applicants seeking bail in CNR NO. DLSW01-005039-2022, Reg. No. CC/374/2022, SFIO v. Bhushan Airways Services Pvt Ltd. &Ors.
(2.) Since the issues involved in both the bail applications are similar, the same are being decided by this common order. The facts are being taken from BAIL APPLN. 2707/2022-Amarjeet Sharma v. S.F.I.O.
(3.) As per the averments made in the bail application, it is seen that on 3/5/2016, the Ministry of Corporate Affairs, Government of India, (hereinafter referred to as "MCA") in exercise of its powers conferred under Sec. 212 (l)(c) of the Companies Act, 2013, assigned the investigation into the affairs of Bhushan Power and Steel Ltd. (hereinafter referred to as "BPSL") and its 10 group companies to Serious Fraud Investigation Office (hereinafter referred to as "SFIO").